TUI Group continued its strong financial performance in Q3 2024, marking its eighth consecutive quarter of double-digit underlying EBIT growth. The company reported a 9% increase in revenue, reaching €5.8 billion, and a significant 37% rise in underlying EBIT to €232 million.
Key segments like Holiday Experiences, which includes Hotels & Resorts, Cruises, and TUI Musement, saw strong results, with EBIT in this segment increasing by €52 million. The Markets & Airlines segment also performed well, with underlying EBIT doubling to €16 million.
TUI hosted 5.8 million guests, a 4% year-on-year increase, and saw robust demand for Summer 2024, with bookings up 6% and average prices up 3%. The company successfully reduced its net debt to €2.1 billion and completed a key refinancing step by placing a €487 million convertible bond.
TUI reconfirmed its full-year 2024 guidance, projecting at least a 10% increase in revenue and a 25% rise in underlying EBIT.
This post was published on 14 August 2024 13:38
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